Kaizen Discovery Announces Positive Judgment by the Supreme Court of Canada

Vancouver, British Columbia--(Newsfile Corp. - September 2, 2022) - Eric Finlayson, Interim President and Chief Executive Officer of Kaizen Discovery Inc. (TSXV: KZD) (otherwise "Kaizen" or the "Company"), is pleased to announce that the Supreme Court of Canada issued a judgment dismissing, with costs, the application of AM Gold Inc. seeking leave to appeal the decision of the British Columbia Court of Appeal dated January 21, 2022 (refer to Kaizen's news release dated January 21, 2022).

The Supreme Court of Canada issued a judgment dismissing, with costs, the application of AM Gold Inc. seeking leave to appeal the decision of the British Columbia Court of Appeal dated January 21, 2022. This judgment means that the decision of the Court of Appeal rejecting AM Gold's appeal of the trial judgment in this matter is final and conclusive. There is no further avenue of appeal or review from the Supreme Court of Canada judgment. This effectively concludes this proceeding, other than Kaizen's recovery of its trial costs (which pursuant to an August 22, 2022 decision of the BC Court of Appeal are payable at 1.5 times the rates provided in the BC Supreme Court Rules Tariff of Costs) from AM Gold or its principal, John Fiorino.

Kaizen's Interim President and Chief Executive Officer Eric Finlayson commented: "As anticipated, the AM Gold leave to appeal was rejected by the Supreme Court of Canada. This brings to an end a five-year legal saga, other than Kaizen's recovery of its costs from AM Gold or its principal, John Fiorino, for every aspect of these proceedings."

About Kaizen

Kaizen is a Canadian mineral exploration and development company with exploration projects in Peru and Canada. More information on Kaizen is available at www.kaizendiscovery.com.

ON BEHALF OF THE COMPANY

Eric Finlayson, Interim President and Chief Executive Officer

Information contact

Ran Li +1-604-689-8765

info@kaizendiscovery.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements

This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to recovering costs from AM Gold or its principal, John Fiorino. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.

Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which the Company operates, are inherently subject to significant operational, economic, and competitive uncertainties, risks and contingencies. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, delays or inability to receive required approvals, unknown impact related to potential business disruptions stemming from the COVID-19 pandemic, or another infectious illness, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators, including those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not undertake to update or revise any forward-looking statements, except in accordance with applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135780